It makes sense to convert your RAW (a proprietary format) file to Adobe's DNG (non-proprietary) RAW format. It has the advantage that software will be able to use the DNG format in a viewable form where RAW cannot also be done.

It's an open standard. DNG uses a single file to store all information while a RAW file uses two files that are needed for backing up (the RAW file itself and the external colour file). So this reduces confusion, storage and backup concerns.

There is software that can convert a proprietary format to the DNG RAW format such a Adobe LightRoom, Adobe PhotoShop and BreezeBrowser Pro internally.

There is no disadvantage in using the convert RAW file to DNG file and then using the DNG file to carry out any post-production. The information within both formats is identical.

I should however mention that DNG does not contain the proprietary information of each manufacturer's RAW formats - or perhaps rather the software which processes them does not support the proprietary information.

So if you had, say, a Nikon D300 RAW file, you could adjust Active D-Lighting using Capture NX, but that's something which would never appear outside of Nikon's software with a DNG.

DNG is fine though if you just want to make basic tonal, colour, sharpness and white balance adjustments.